Infosys Q2 net profit rises 20.5% to Rs 4,845 crore

NEW DELHI: The country’s second largest IT services firm Infosys on Wednesday reported a 20.5 per cent growth in its consolidated net profit for the second quarter ended September 30 (Q2).
The company posted a net profit of Rs 4,845 crore in the period under consideration as against a profit of Rs 4,019 crore posted in the same period last year.
In terms of quarterly growth, Infosys reported a 14.45 per cent rise in its net profit from Rs 4,233 crore posted in previous quarter.
The IT major revised its annual revenue growth forecast between 2 per cent to 3 per cent in constant currency, from an earlier expectation of flat to 2 per cent.
Infosys also said that it will roll out salary increases, promotions across all levels with effect from January 1.
Commenting on the results, chief executive officer (CEO) and managing director of Infosys Salil Parekh said: “Our second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys.”
“Our digital and cloud capabilities combined with intense client relevance are helping us achieve differentiated results in the market as is visible in 2.2 per cent year-on-year overall revenue growth and 25.4 per cent growth from digital offerings, which now are at 47.3 per cent of revenues,” he added.
The Bengaluru-based company also said it is giving 100 per cent variable pay along with a special incentive for the second quarter.
Revenue from operations of the company rose 8.5 per cent in Q2 to Rs 24,570 as against a revenue of Rs 22,629 crore in same quarter last year.
Infosys chief financial officer (CFO) Nilanjan Roy said free cash flows grew significantly in H1, driven by its consistent focus on liquidity and cash management.
“Consequently, we are increasing our interim dividend per share by 50 per cent to Rs 12,” he added.
Shares of Infosys finished 1.89 per cent lower at Rs 1,136.10 on the BSE. While, it closed 1.71 per cent lower at Rs 1,138 on the NSE.
(With agency inputs)

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